Insurance Data Management System
A system and method for the capture, storage and usage of specific insurance underwriting and/or loss validation data includes a handheld mobile computer device containing one or more master forms in which insurance data is entered into the handheld device, normally at the location of the insured home along with an electronic signature of the insured and a geocode and time/date stamp. The data is uploaded to a secure, structured database. Insurance data can also be entered, in a secure manner, via a customer portal by the insured or from third party data sources. The system includes software with the ability to pre-populate standardized underwriting forms based on the collected data. The system also manages electronic insurance quotes and bind orders as well.
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The invention pertains to a system and method for the capture, storage and utilization of specific data of value in the property and casualty insurance markets.
SUMMARY OF THE INVENTIONThe invention pertains to insurance portfolio data management. More specifically, a system operating in accordance with invention enables insurance agents to collect, collaborate and analyze real-time structured data received from the field through a handheld mobile device, through a customer website portal or software app, or from third party data sources. The data can be accessed by insurance customers, underwriters and/or agents, and comprehensive electronic forms and reports are generated. For example, standardized underwriting forms, such as the Accord® form or other format desired by a particular underwriter are generated by the information stored in the insurance portfolio data management system. Underwriters provide trackable insurance quotes in electronic form to the insurance portfolio data management system which in turn generates a quote report that is sent in electronic form to licensed insurance agents. The licensed insurance agents complete the transaction and bind coverage for the insured, and then transmit a trackable bind order to the insurance portfolio data management system which in turn generates a trackable bind order that is sent to the respective underwriter.
One of the primary features of the invention is to collect data in the field via a handheld mobile computing device which includes global positioning technology, such as a computer tablet with the appropriate software, or other handheld GPS enabled mobile input device. An employee for an insurance company (or the system administrator) can enter data in a master form on the handheld device which desirably associates a geocode and a time/date stamp with the information. The onsite data collection also optionally includes the ability to add photographs, video, scanned documents or voice messages as part of the geocoded and time/date stamped record. The handheld mobile computing device also desirably includes a stylus and an electronic signature capability, and provides the binding of contracts through the electronic signature capability. The stylus can also be used to superimpose handwritten notes over a static photo or scanned document. It is also desirable that the handheld mobile computing device have the ability to scan barcodes. The barcode scanning feature is a particularly effective and efficient way to enter vehicle identification information, and other information that make be encoded by bar code.
The insurance portfolio data management system can be used in a variety of applications, but two preferred applications are noted. The first preferred application is to use the mobile tool in the field in order to gather fundamental data for insurance procurement. Since fundamental data collection occurs in the field, the system improves convenience to the customer and accuracy of the collected information. The second preferred application is to use the mobile tool when responding to a claim of an insured loss. Again, the mobile device can be used to reliably and efficiently collect onsite information regarding the validation of a loss. The claims adjuster will then be better able to make a more informed decision regarding coverage determinations.
In addition, the data collected can be integrated into existing databases and management systems. The system can thus be used as a stand-alone system or as a supplement to an existing system. Commercial users of the system can be clustered in a hierarchy that relates to their commercial structure. The hierarchy allows managers and supervisors to review the dashboard metrics of their direct reports, and can be customized for each commercial subscriber.
Other features and objects of the invention will be apparent to those skilled in the art upon reviewing the following drawings and description thereof.
Referring to
The handheld mobile computing device 12 can be a laptop, tablet or smartphone including global positioning technology with appropriate software, or can be another type of handheld GPS enabled mobile computing device. The preferred device 12 is a tablet having a stylus. As mentioned above, an employee for the insurance company, or the administrator or some other individual, enters data into one or more master forms on the handheld device 12, which also preferably associates a geocode and a time and date stamp with the information. It is also preferred that the handheld mobile computing device 12 have the ability to take photographs and video, and record voice messages as part of the record and also geocode and time and date stamp the photographs, video and voice messages as well. Further, it is desirable that the handheld mobile computing device 12 include electronic signature capability to allow the binding of contracts on site with the stylus. Further, it may be desirable to include a document scanner that can communicate with the handheld mobile computing device 12 on site. The stylus can be used to make electronic notes on geocoded/time and date stamped photographs or scanned documents. In addition, as mentioned above, it is desirable the handheld computing device include a bar code scanning feature. The technical implementation of collecting the data in the field and uploading the geocoded and time/date stamped data to the insurance portfolio data management system 10 is preferably similar to the technical implementation described in U.S. Pat. No. 7,266,558, entitled “Method and Apparatus for Global Relief Management”, which issued on Sep. 4, 2007 and is hereby incorporated by reference. The mobile handheld computing device would normally include cellular and WiFi communication to upload the data.
If a claims adjuster were to subscribe and use the system, the adjuster could access policy data on the system pertaining to the insurance customer with the alleged loss, and would also use the handheld mobile computing device 12 to collect onsite data verify the loss.
Referring again to
Data can also be uploaded to the insurance portfolio data management system 10 from third party data sources as illustrated by block 16 in
Once the necessary data is collected, either from the master forms on the handheld computing device 12 (e.g.
In addition to the standardized underwriting forms 18, the system is capable of providing supplemental underwriting data, e.g. photographs collected by the handheld mobile computing device 12. In this way, data collected from the handheld unit 12 or the customer portal 14 or the third party data sources 16 that is more comprehensive than the data on the typical standardized underwriting forms is efficiently provided to the underwriters.
Each underwriter 20 provides a trackable insurance quote 22 that is unique to the individual consumer risk profile (as compiled through the process). The administrator of the insurance portfolio data management system 10 (e.g., normally a certified licensed insurance agent 26 subscribing to the system 10) then integrates the quotes 22 into a standard electronic format (a quote report 24), and provides an analysis and recommendation to the insurance consumer 30 regarding coverage. The licensed insurance agent 26 binds coverage for the insured 30, see reference numbers 28-30. Upon review and approval by the insured 30, arrangements to bind coverage 28 are completed by the insured 30 and the certified agent 26, and a trackable bind order 32 is electronically transmitted to the insurance portfolio data management system 10. The trackable bind order 32A is also electronically transmitted from the system 10 to the respective underwriter 20, see reference number 32A in
The administrator of the system 10, with the permission of the insured 30, retains the underlying data and it is available to the insured 30 via the secured web based portal 14. The consumer/insured 30 is able to review, update and supplement their data electronically via the customer portal 14 as time passes. The subscribers of the system 10 are also able to access the data integrated into existing databases pertaining to their business. Managers and supervisors can review this data and dashboard metrics customized for their business.
The insurance agent (or insurance broker) is able, if desired, to automatically reinitiate the process of marketing insurance to the customers in the database on a periodic basis, such as every three years, generally in the same manner as discussed above. Consumers/insured 30 can opt in to electronic communications from the administrator regarding weather advisories, risk management protocols, and product/service offerings that may reduce their risk profile, mitigate any future loss, and positively impact their annual premiums. The system 10 should also improve operational efficiency and simplify the work process in other ways as well, such as reducing overhead.
In the foregoing description, certain terms have been used for brevity, clearness, and understanding. No unnecessary limitations are to be inferred therefrom beyond the requirement of the prior art because such terms are used for descriptive purposes and are intended to be broadly construed. The different configurations, systems, and method steps described herein may be used alone or in combination with other configurations, systems and method steps. It is to be expected that various equivalents, alternatives and modifications are possible within the scope of the appended claims.
Claims
1. An insurance portfolio data management system comprising:
- a structured database containing insurance data for insurance customers;
- at least one handheld mobile computing device that is programmed to receive insurance data entered into one or more master forms on the handheld device and upload the entered data to the structured database, wherein the data entered into the master form on the handheld unit is geocoded and time and date stamped.
2. A system as recited in claim 1 wherein insurance data can also be entered into the structured database via a customer portal or from a third party data source.
3. A system as recited in claim 1 wherein the insurance data in the structured database is used to pre-populate one or more standardized underwriting forms and the system further generates pre-populated versions of the standardized underwriting forms in electronic form.
4. A system as recited in claim 1 wherein the handheld mobile computing device further includes the ability to take photographs and upload the photographs to the structured database, and then associate those photographs/images with a dedicated file that corresponds to a specific customer
5. A system as recited in claim 1 wherein the handheld mobile computing device further comprises a stylus and electronic signature capability.
6. A system as recited in claim 1 wherein the handheld mobile computing device further comprises a stylus for the purposes of marking static photographs or images.
7. A system as recited in claim 1 wherein the handheld mobile computing device further comprises a bar code reading capability.
8. A system as recited in claim 1 wherein the handheld mobile computing device further comprises the ability to take video and upload the video to the structured database.
9. A system as recited in claim 1 further comprising a document scanner that is able to communicate with the handheld mobile computing device and wherein the handheld mobile computing device has the ability to upload scanned documents to the structured database.
10. A system as recited in claim 1 wherein the handheld mobile computing device further comprises a voice recording capability.
11. A system as recited in claim 1 wherein the handheld mobile computer device includes a master form for in-taking an insurance customer, another master form for collecting information regarding home owner's insurance, and yet another master form for collecting information regarding auto insurance.
12. A system as recited in claim 1 wherein the handheld mobile computer device includes a master form for validating property losses.
Type: Application
Filed: Sep 30, 2015
Publication Date: Mar 31, 2016
Patent Grant number: 10453148
Applicant: Cloudbridge, LLC (Rye, NH)
Inventor: Brian J.X. Murphy (Rye, NH)
Application Number: 14/870,331